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Question
Tell what is the profit or loss in the following transaction. Also find profit percent or loss percent in given case.
A cupboard bought for ₹ 2,500 and sold at ₹ 3,000.
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Solution
Cost price = ₹ 2500
Selling price = ₹ 3000
Profit = 3000 - 2500
= ₹ 500
Profit % = `"Profit"/"Cost price" xx 100`
= `500/2500 xx 100`
= 20%
So, profit = ₹ 500 and profit percentage = 20%
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